Lasting Power of Attorney. Your Voice, Your Decision.
3 May 2019 by Anastasia Packman
Have you considered what will happen if you were to lose the ability to make certain decisions for yourself? Who will make those decisions for you? In cases like this, a Lasting Power of Attorney (LPA) lets people you trust quickly, easily, and legally step in.
There are some common misconceptions about what your family are allowed to do if you were to lose mental capacity…
- 73% of people think they if a couple have a joint bank account and one person can’t make decisions for themselves, their partner can legally make decisions for them both. This is untrue. An LPA will however give you consent to access joint funds to pay and monitor financial aspects of a joint account.
- 72% of people think that your next of kin always gets the final say in treatment decisions at hospital, if you can’t make them yourself. This is also untrue. Medical decisions need the specific, agreed consent of the person involved, before a next of kin can make treatment or welfare choices on someone else’s behalf.
What are the two different types of lasting power of attorney?
There are two different types of lasting power of attorney, Property and Financial affairs and Health and Welfare. We recommend you get both so you’re covered for every eventuality.
Property and Financial affairs lasting power of attorney gives someone you trust the power to make decisions about your money and property, for example:
- paying bills
- managing a bank or building society account
- collecting pensions or benefits
- selling your home
These powers can be used at any time, but only if you say it’s ok.
Health and Welfare lasting power of attorney gives you the power to make decisions about things like:
- your daily routine – for example, washing, dressing, and eating
- medical care
- moving into a care home
- life-sustaining treatment
So, where do you start?
If you want to discuss lasting powers of attorney or simply have more information before you make your mind up contact a member of our Wills, Life Planning & Probate team and we will be happy to help. Call 01206 700113 or email [email protected].